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drbubb

Suggestions from loyal GEI-ers about the site's direction

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You guys should all chill out. Its like watching a Monty Python sketch.

We all have roughly the same interests that brings us to these forums. Personally I like the various opinions.

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You guys should all chill out. Its like watching a Monty Python sketch.
We all have roughly the same interests that brings us to these forums. Personally I like the various opinions.

 

+1. I agree completely.

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Wealth = an elegant sufficiency, or so someone told me many moons ago!

 

Not too much lest one becomes totally hedonistic, and not too little so that one is forced to steal to survive. Just an elegant sufficiency wherewith one remains conscious of one's blessings and the needs of one's neighbour.

 

I like that.

Sufficiency = comfort.

One of the blessings of wealth should be a high degree of comfort.

 

Economic wealth, can mean owning loads of assets. But that alone can mean a sort of emotional

or spiritual poverty.

 

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Ahh, wealth with wisdom! For surely only wisdom can bring a stewardship of wealth that promotes happiness.

 

I have high hopes for my grandson who has either presciently or optimistically been named Solomon!

 

As I woke up, I had some ideas in my head.

Maybe I should share them here...

 

MORE LATER... in just a few minutes

 

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Reading the way this thread has developed I think the traders, hedgers and investors that are thinking about gold need to be careful. Whereas it might suit the "FOPP" to endlessly engage in polarizing debate about gold, this does not suit others. If you are not a "FOPP" you are wanting to be flexible and pragmatic about gold in the short/medium term, and whether it might go to new heights, or fall to a better price. The Fopp wants to debate gold [constantly bullish] because this helps him to clarify his own goals, and bolster his own beliefs... and fair enough to him. The non-Fopp has to be careful here because the more he enters into the debate the more he could become habituated to take a bearish stance on gold... that is to "take the other side of the trade" so to speak. Yet, the non-Fopp's position is not bearish but non-permabullish.

 

With this in mind, I think it would be best that the FOPPs post on 24K [perma-bullish on gold], or if that proves difficult [because no-one to debate with because everyone is perma-bullish :lol:] to then perhaps post on specific threads here, the Jim Sinclair thread is a good example of this.

 

I think the site, to be a healthy one for investors of all types, needs to get beyond ths endless, counter-productive and perhaps harmful polarized "debate". I think it should be obvious that most here are long term bulls on gold, and that there is a very good chance of continued volatility in gold. Let's then retire the "debate" to a specific forum or thread, and discuss gold at a more pragmatic level in the general threads.

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It appears the subject of gold has poisoned its way into almost every thread created.

 

If the "fiat" paper currency collapses, your ability to hold/own gold will most probably once again be outlawed and be revalued by a conglomerate of unified countries of power. This is where I have plenty of difficulties agreeing with many of these gold bug theories. Do you honestly think if the entire global trading community currencies collapse, governments will let people hoard gold? I doubt it. Furthermore do you think governments will compensate you? hehehe

 

I think this site has still has plenty of merit, and if you visit other sites like these, you will always find the same irrational emotional goldbugs/gold-worshippers with the same old theories. Having said that, I am always amused at their doom forecasts as it seems the gold freaks are always wishing on the financial global collapse, and thinking they have plenty of the precious stored up in safe keeping will save them. It really blows my mind.

Yet common sense says diversity.

 

If the global financial collapse hit the world, your precious gold might be worth almost zero to yourself.

 

Anyway just my take..............

 

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My take on it is that the people on here who are really pro-gold are so because they feel it is the best place for you hard-earned at the moment. When the time comes (and it will come) that the pro-golders feel that there are other investments that will be better stores of worth we will see a lot more threads on how to diversify out of gold (and pro-other investments).

If I thought that people were blindly holding gold I'd not bother visiting the site. For me the fact that there are a lot of smart people on here that are really into gold and so many gold threads tells me that I am still right to be holding my gold. When the mood changes, I'll start to look at what to get into next.

 

So I don't see the pro-gold discussions as a bad thing, I just think they are a natural consequence of smart people looking for the best store of wealth at the current time.

 

Sylvester

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...When the time comes (and it will come) that the pro-golders feel that there are other investments that will be better stores of worth we will see a lot more threads on how to diversify out of gold (and pro-other investments).

 

... for the best store of wealth at the current time.

 

Actually, carrying on from that theme, it would be good to see what gold bugs will do beyond the final spike (assuming they sell as it hits its peak).

 

Maybe a thread "Beyond Gold, where will the proceeds go".

 

Gold may protect against destruction of paper money, but what will you do with it when it is say $3000 pe oz and paper money still exists?

 

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If the "fiat" paper currency collapses, your ability to hold/own gold will most probably once again be outlawed and be revalued by a conglomerate of unified countries of power. This is where I have plenty of difficulties agreeing with many of these gold bug theories. Do you honestly think if the entire global trading community currencies collapse, governments will let people hoard gold? I doubt it. Furthermore do you think governments will compensate you? hehehe

 

FYI:

 

http://www.fgmr.com/confiscation.htm

After the confiscation announcement, only 3.9 million ounces of gold coin - approximately 21.9% of the gold coin then in circulation - were turned in. Subsequently, the government no longer reported this statistic as it assumed, according to Friedman and Schwartz, that these gold coins were "lost, destroyed, exported without record, or…in numismatic collections". After analyzing in some detail each possibility noted in the government's contention that ostensibly explained why all these gold coins remained outstanding after the confiscation, Friedman and Schwartz go on to say: "We therefore concluded that in Jan. 1934 the bulk of the [13.9 million ounces] was retained illegally in private hands."

 

PS. the state grew larger in the '30s. this time it will get smaller. much smaller.

 

this is actually the death of the monetary system that was conceived in 1933.

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Actually, carrying on from that theme, it would be good to see what gold bugs will do beyond the final spike (assuming they sell as it hits its peak).

 

Maybe a thread "Beyond Gold, where will the proceeds go".

 

Gold may protect against destruction of paper money, but what will you do with it when it is say $3000 pe oz and paper money still exists?

 

why not start it? the thread

 

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Actually, carrying on from that theme, it would be good to see what gold bugs will do beyond the final spike (assuming they sell as it hits its peak).

 

Maybe a thread "Beyond Gold, where will the proceeds go".

 

Gold may protect against destruction of paper money, but what will you do with it when it is say $3000 pe oz and paper money still exists?

 

Gold bugs need system collapse. Otherwise everything will just be expensive.

 

In system collapse people will be starving and farmers unable to use transport to sell produce so local to them prices will fall.

 

Something like that anyway? Not obvious to me how it works out.

 

What actually is the preferred gold bugs outcome?

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So GOM, can i ask you if this description reminds you of anyone?............. have you recently met someone who you consider to be your new best friend?

 

Going back to my post yesterday, are you sure you are not being "played like an old fiddle?"

 

 

Hope this helps and no offence intended

 

havipark,

 

I can appreciate your comments but can assure you that I have not got a new best friend & am very sure that I am not being played like an old fiddle.

No offence taken (made swampy & myself laugh though ;) ).

 

I can assure you, GOM is more astute than you think........all help/aid given through a virtual environment has been offered, not asked for.

 

swampy & myself are on the same wavelength. :)

 

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I'm on holiday at the moment so not posting here very much....

 

I really enjoy GEI. For me it has been an online oasis where I can chat to others who think like I do about saving and investing. It also gives answers to the problems thrown at my generation/situation in the UK (early 30s, no bank of M+D, priced out of living due to student debt and house price inflation).

 

I also like the lifestyle and life direction threads. After all, who wants to die rich but unfulfilled?

 

The bickering results from people not respecting the views of others . I guess people need to be more humble and accept that the future is unknown even in these extreme times. That may require quite passive members such as myself asking for tolerance and respect more often on threads.

 

 

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havipark,

 

I can appreciate your comments but can assure you that I have not got a new best friend & am very sure that I am not being played like an old fiddle.

No offence taken (made swampy & myself laugh though ;) ).

 

I can assure you, GOM is more astute than you think........all help/aid given through a virtual environment has been offered, not asked for.

 

swampy & myself are on the same wavelength. :)

 

Ok...I give up

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I can assure you, GOM is more astute than you think........all help/aid given through a virtual environment has been offered, not asked for.

swampy & myself are on the same wavelength. :)

 

GOM = Swamp + a sense of humor, and an ability to say it in fewer words - conspiracy theory

 

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I think the direction the site was going in was fine. It has a life of its own and evolves all the time and a lack of clear direction is reflected by the state of the markets. Its a shame that there is friction between the site owner and some of those with gold. Im sure it will all work out OK though.

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If the global financial collapse hit the world, your precious gold might be worth almost zero to yourself.

Gold bugs need system collapse.

The kind of comments above are prime examples for the typical nonsense paper bugs spout out. It's quite annoying, but the best is to ignore.

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Thanks for the post.

I wonder if being in Copenhagen gives you any special insights on the circus going on there?

 

I never got down to the Bella Centre, partly because the traffic and general security going on around the meeting was so great that it made travelling there a pain - and for several kms around too.

 

I did notice the plush airport lounge set aside for delegates to the conference - COP15 delegates obviously needed their comforts.

 

I left on Sunday and an air of gloom among CPHers was evident. Many thought the conference would generate additional tourism to a city suffering from a ludicrously strong currency at the moment (example: a medium Starbucks latte is around £5.50). The joke doing the rounds was that Hopenhagen had become Brokenhagen.

 

The plus side for some was they made money letting out their flat or house to delegates - one told me he charged 11K danish kroner (£1375) for two weeks for a small one bedroom flat, approximately double his monthly rental cost. That was to the Director of a "small Australian NGO".

 

My biggest laugh was overhearing two environmental engineers who are working in CPH chatting on the plane about the financial crisis:

 

"The thing is it was excess that got us into this mess and now the only way to get out is more excess."

 

I guess that is how a lot of people see it.

 

So to answer your question directly...er, no.

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The kind of comments above are prime examples for the typical nonsense paper bugs spout out. It's quite annoying, but the best is to ignore.

 

Labelling posters with your assumptions clearly displays your distorted perception. There are many things that I do agree with in regards to gold-nutter conspiracy theories and yes there are some wonderful sound arguments, however I do not see governments of our day will allow gold be hoarded by the pleb public if indeed a world currency collapse actually happened.

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